Well, at least in my country, cryptocurrencies are still a loophole when it comes to tax, regulations aren't thought out and cryptocurrencies aren't taxable. Honestly, the amount most of the bounty hunters earn aren't enough to tax, I mean, when it's taxed it would be so low that every user here would be forced to use multis for bounty hunting, otherwise, you can't make a living from it.
So taking bounty hunting as a freelance off-record work. Let's be honest here, some of us have switched to full-time bounty hunting from our day jobs, to be a freelance taxpayer, you need a tax registration certificate, how many of us have it here?
few even pay the taxes on value earned on the cryptocurrency returns let alone the tax registration certificate, Bounty hunting to be should be considered more of a side hustle, as much as you may end up earning quite a lot from it, It shouldnt take much of the time and space. there are surely better things to do, but if you feel it pays you better then why not, you can make it full time.